3-Month Price of Nickel Shifts Up 1.7%

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 On Dec. 12, 2012, the day’s biggest mover was the nickel 3-month price, which saw a 1.7 percent increase on the LME to $17,695 per metric ton. On the LME, the nickel spot price gained 1.6 percent to finish at $17,600 per metric ton. The cash price of primary Indian nickel rose 0.8 percent to INR 963.70 ($17.76) per kilogram.

Chinese stainless steel closed mixed yesterday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,329) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,214) per metric ton.

The price of Chinese primary nickel increased 0.7 percent to CNY 125,200 ($20,044) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 27,000 ($4,323) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,200 ($2,914) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,600 ($2,658) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 18,200 ($2,914) per metric ton.

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